KANSAS OFFICE of
  REVISOR of STATUTES

  

Home >> Statutes >> Back


Click to open printable format in new window.Printable Format
 | Next

17-7501. Definitions. As used in this act:

(a) "Domestic corporation" means any corporation organized under the laws of this state, irrespective of whether such corporation is organized for profit.

(b) "Foreign corporation" means any corporation organized under the laws of any jurisdiction other than this state.

(c) "Articles of incorporation" means the original articles of incorporation filed to create a corporation, but such term also includes the charter, articles of association and any other instrument by whatever name known under which a corporation has been or may be lawfully formed.

(d) "Shareholder's equity" means the sum of: (1) Paid-in capital stock, except that paid-in capital stock shall not include any capital stock issued by a corporation and reacquired by such corporation through gift, purchase or otherwise and available for resale or retirement; (2) capital paid in, in excess of par; and (3) retained earnings, except that any moneys which have been allocated and are payable to the members of any corporation which is organized as a cooperative association or society shall not be included as part of the retained earnings of such corporation for the purpose of this act.

(e) "Shareholder's equity attributable to Kansas" means the shareholder's equity of a corporation multiplied by a percentage which is the average of the following three percentages: (1) The average value of the corporation's real and tangible personal property owned or rented and used in this state during the next preceding tax period divided by the average total value of the corporation's real and tangible personal property owned or rented and used during the next preceding tax period; (2) the total amount of compensation paid by the corporation in this state during the next preceding tax period divided by the total amount of compensation paid everywhere by the corporation during the next preceding tax period; and (3) the total sales of the corporation in this state during the next preceding tax period divided by the total sales of the corporation everywhere during the next preceding tax period. If a corporation has no property or activity mentioned in one of the above factors, the appropriate percentage for that factor is 100%.

(f) "Tax period" means a corporation's taxable year under the Kansas income tax act.

History: L. 1972, ch. 54, § 1; L. 1973, ch. 101, § 1; L. 1991, ch. 76, § 3; July 1.

Revisor’s Note:

Act inapplicable to certain corporations, see 17-7512.

Cross References to Related Sections:

Contents of articles of incorporation, see 17-6002.

Definition of “articles of incorporation” in general corporation code, see 17-6004.

“Surplus” and “net assets” defined for purpose of designating part of consideration for issuance of stock as capital, see 17-6404.

Amendment of articles of incorporation, see 17-6602.

Reduction of capital, see 17-6604.

Restated articles of incorporation, see 17-6605.

Extension, renewal or reinstatement of articles of incorporation, see 17-7002.

Definition of “foreign corporation” in general corporation code, see 17-7301.

CASE ANNOTATIONS

1. Refund for overpayment of franchise tax denied; appellant must exhaust administrative remedies. Farmers Banshares of Abilene Inc. v. Graves, 250 K. 520, 521, 826 P.2d 1363 (1992).


 | Next


LEGISLATIVE COORDINATING COUNCIL
12/30/2022 Meeting Notice  Agenda
11/16/2022 Meeting Notice Agenda
9/23/2022 Meeting Notice Agenda
6/16/2022 Meeting Notice Agenda
2/23/2022 Meeting Notice Agenda
1/7/2022 Meeting Notice Agenda

LCC Policies

COMMISSION ON INTERSTATE COOPERATION
6/29/2022 Meeting Notice Agenda

REVISOR OF STATUTES
2021 Interim Assignments
2022 Valid Section Numbers
Chapter 72 Statute Transfer List
Kansas School Equity & Enhancement Act
Gannon v. State
Information for Special Session 2021
General Information, Legal Analysis & Research
2022 Amended & Repealed Statutes
2021 Amended & Repealed Statutes
2020 Amended & repealed Statutes
2019 Amended & Repealed Statutes

USEFUL LINKS
Session Laws

 OTHER LEGISLATIVE SITES
Kansas Legislature
Administrative Services
Division of Post Audit
Research Department